Morgan Stanley has seen a couple of key departures to its Foreign Exchange (FX) unit, specifically in the Emerging Markets (EM) space, with both Kay Haigh and Oliver Jerome parting ways with the lender, Finance Magnates has learned.
Mr. Jerome, the group’s Managing Director and Head of FX EM Europe, has parted ways with Morgan Stanley following a nearly four-year stint with the group. Prior to this role, he also served as the Head of FX EM Sales across Europe, Middle East and Africa (EMEA) and the Americas at Morgan Stanley, dating back to 2010.
Additional stops for Mr. Jerome have included Standard Chartered as well as JPMorgan, having held senior level positions in the FX, Sales and Corporate space. The bank has declined to comment. However, sources suggest that Mr. Jerome has resigned amid imminent cuts in the FX desk.
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Another departure in the department is of Mr. Haigh, who was brought in this past February. Since then, he has worked as its Global Head of EM, whose mandate had been to fortify the group’s FX and EM sales and trading business. The bank has declined to comment about Mr. Haigh’s departure as well.
Interestingly, throughout the day, Morgan Stanley employees made it to the top of the most viewed listed on Bloomberg’s terminal, indicating that whispers of traders and executives in the city could suggest further executive moves down the road for the group.
A number of other leading banks have seen a plethora of job cuts and broader restructuring to their personnel, namely in terms of their respective London operations. This has included Standard Chartered, Deutsche Bank and Credit Suisse, among others.